Trueblood Wealth Management LLC Sells 3,461 Shares of The Coca-Cola Company (NYSE:KO)

Trueblood Wealth Management LLC trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 22.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,909 shares of the company’s stock after selling 3,461 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Coca-Cola were worth $758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new stake in Coca-Cola in the 4th quarter worth approximately $2,808,056,000. Price T Rowe Associates Inc. MD increased its stake in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Coca-Cola by 11,127.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after purchasing an additional 4,928,441 shares during the period. Pathstone Holdings LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at approximately $193,342,000. Finally, Putnam Investments LLC increased its stake in shares of Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after purchasing an additional 2,973,234 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.06 on Thursday. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The firm has a 50 day moving average of $67.97 and a two-hundred day moving average of $63.78. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $306.10 billion, a PE ratio of 28.42, a P/E/G ratio of 3.94 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. On average, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.73%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,606 shares of company stock worth $584,747,672 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KO shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Royal Bank of Canada raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.